Recent innovation has led to a variety of products and associated account types becoming available to customers. Consequently, a customer having a plurality of accounts each corresponding to different products or services has become common.
Conventionally, each of the plurality of accounts is distinct, and each may have independent and unrelated terms and conditions associated with their use. For example, a customer may have a plurality of independent financial accounts, including a credit account, a savings account, a home equity line of credit account, a mortgage account, and the like, and each account may have an independent set of terms regulating its use and operation.
Conventionally, even though each of the plurality of accounts may be associated with a common customer, information regarding transaction activity in one account is not utilized to adjust terms and conditions in another account. This independence of terms results in a loss of benefit to the customer, as well as in an inability of an institution managing the accounts to change account terms to adjust for varying activity and risk level.
Therefore, a need exists for a system and method for managing terms of a plurality of related accounts whereby account activity of one or more accounts may be used to modify terms of other related accounts.